A Multi-objective Cost, Availability and Time Optimisation Model for Bidding Stages

The article is concerned with competitive cost and availability estimates of complex engineering systems at the bidding stage of availability type support services contracts (CfA). Such estimates are important to calculate the best price that will win the contract in a competitive bidding scenario while ensuring that the contract can be carried out profitably. An enhanced genetic algorithm is applied to multivariable functions of cost, availability and time, which is implemented in a Cost Availability and Time Optimisation simulation model (CATION) that builds automated and fast estimates. The model considers a multi-attribute performance impact scenario and calculates the optimal investment in each attribute to achieve total contract cost and system availability targets, for the certain contract duration. Twelve CfA are investigated, in the aerospace and marine domains, under cost and availability targets, for validating the results. Conclusions from these case studies indicate that different monetary allocations can have an impact on the performance of the system, and optimisation of this allocation can assure that targets are met at adequate costs